The Madison Square Garden Company (NYSE:MSGS) Receives Average Rating of “Hold” from Analysts

Shares of The Madison Square Garden Company (NYSE:MSGS) have earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $442.40.

MSGS has been the topic of several research analyst reports. Citigroup boosted their price target on shares of Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Madison Square Garden in a research report on Wednesday, June 24th. Susquehanna lifted their target price on Madison Square Garden from $429.00 to $430.00 and gave the stock a “positive” rating in a report on Tuesday, June 23rd. Zacks Research downgraded Madison Square Garden from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. increased their price target on Madison Square Garden from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MSGS. Aster Capital Management DIFC Ltd purchased a new position in shares of Madison Square Garden in the fourth quarter valued at $26,000. Caitong International Asset Management Co. Ltd raised its stake in Madison Square Garden by 67.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock valued at $32,000 after purchasing an additional 49 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in Madison Square Garden by 488.2% during the first quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock valued at $32,000 after purchasing an additional 83 shares in the last quarter. Global Retirement Partners LLC lifted its position in Madison Square Garden by 1,150.0% during the fourth quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. Finally, Salomon & Ludwin LLC grew its stake in shares of Madison Square Garden by 33.1% in the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock worth $40,000 after buying an additional 39 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors.

Madison Square Garden Price Performance

Madison Square Garden stock opened at $396.01 on Friday. Madison Square Garden has a 1 year low of $188.60 and a 1 year high of $411.73. The firm’s 50 day moving average price is $380.53 and its 200-day moving average price is $334.74. The stock has a market cap of $9.54 billion, a P/E ratio of -425.81 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last issued its earnings results on Friday, May 8th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The company had revenue of $432.20 million for the quarter, compared to analysts’ expectations of $429.66 million. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted ($0.59) EPS. As a group, equities analysts expect that Madison Square Garden will post -0.06 EPS for the current year.

Madison Square Garden Company Profile

Madison Square Garden Sports Corp (NYSE: MSGS) is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA’s New York Knicks, the NHL’s New York Rangers and the WNBA’s New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.